CAclubindia News

Delhi Police Warns Personnel Against Filing Bogus Income Tax Returns

07 January 2025 at 09:03

The Delhi Police General Administration (GA) Department has issued a strict directive to its personnel, cautioning them against filing fraudulent income tax (IT) returns by claiming fake deductions.

Posted in Income Tax | 3930 Views

Ministry of Finance Designates Nodal Officer for IT Act and GST Compliance u/s 14A(3)

07 January 2025 at 09:00

In a significant development aimed at strengthening coordination between IT and GST frameworks, the Ministry of Finance has issued Notification S.O. 95(E), designating the Additional/Joint Director (Intelligence)

Posted in GST | 873 Views

Pre-Budget Consultation Meetings for the forthcoming Union Budget 2025-26 concludes

07 January 2025 at 08:50

The Pre-Budget consultations chaired by Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman for the forthcoming Union Budget 2025-26 concluded in New Delhi.

Posted in Union Budget | 564 Views

Chartered Accountants to Report FCRA Breaches in NGO Audits: MHA Directive

07 January 2025 at 08:49

The Foreigner's Division of the MHA has introduced new regulations requiring Chartered Accountants (CAs) to include specific declarations regarding compliance with the Foreign Contribution (Regulation) Act, 2010 (FCRA) when filing audit returns for NGOs.

Posted in Audit | 3027 Views

ICAI Set to Finalize International Networking Guidelines for CA Firms by FY 2024-25

06 January 2025 at 08:54

The Institute of Chartered Accountants of India (ICAI) is gearing up to finalize its international networking guidelines for Indian chartered accountant (CA) firms by the end of this fiscal year.

Posted in Audit | 1 comments | 7452 Views

Finance Ministry Assures Sufficiency of GST Compensation Cess Fund

06 January 2025 at 08:54

The Finance Ministry has addressed concerns regarding the adequacy of the GST Compensation Cess Fund, emphasizing that there is no shortfall in meeting compensation and loan repayment obligations.

Posted in GST | 879 Views

Ministry of Civil Aviation Denies Digi Yatra Data Sharing with Tax Authorities

06 January 2025 at 08:54

The Ministry of Civil Aviation has strongly refuted claims that passenger data from the Digi Yatra app is being shared with Indian tax authorities.

Posted in Income Tax | 753 Views

Union Budget 2025: Tax Incentives for Fixed Deposits on the Table to Boost Middle-Class Savings

06 January 2025 at 08:54

As the Union Budget 2025 approaches, Finance Minister Nirmala Sitharaman is actively engaging with representatives from the financial sector to consider key recommendations aimed at boosting middle-class savings.

Posted in Union Budget | 1 comments | 2295 Views

CAG Invites Online Applications for Empanelment of CA Firms/LLPs for 2025-26

06 January 2025 at 08:54

The Office of the Comptroller and Auditor General (CAG) of India has issued a public announcement inviting Chartered Accountant firms and LLPs to apply for empanelment for the financial year 2025-26.

Posted in Professional Resource | 5667 Views

GST Notice Issued to Pani Puri Vendor Over Rs 40 Lakh Digital Transactions

04 January 2025 at 13:59

In a surprising turn of events, a pani puri vendor has come under the scrutiny of the GST department after reportedly receiving payments amounting to Rs. 40 lakh annually.

Posted in GST | 2 comments | 18732 Views